Common Credit Score Myths You Should Stop Believing

Many people misunderstand how credit scores work, leading to poor financial decisions. A common myth is that checking your own score lowers it, but soft inquiries have no impact. Another misconception is that closing old credit cards improves your score, when it can actually reduce your credit history length. Some believe carrying a balance helps, but paying in full is better. It’s also false that income directly affects your credit score. In reality, timely payments, credit utilization, and account history matter most. Understanding these facts helps you manage credit wisely and avoid mistakes that can harm your financial health.